Proof of Funds with Personal Loan

[raziiqbal]

Hi,

I am ready to submit my documents on the portal except the proof of funds. I have enough fund in my account to complete the funds requirements however I have a loan from the bank as well. Even if I pay the loan my funds would be 2000-3000 CAD more than required, however I would like to pay my loan on monthly basis as I am doing currently.

Is it safe to show in the financial letter that i have a loan?

 

[DelPiero07]

Hi,

I am ready to submit my documents on the portal except the proof of funds. I have enough fund in my account to complete the funds requirements however I have a loan from the bank as well. Even if I pay the loan my funds would be 2000-3000 CAD more than required, however I would like to pay my loan on monthly basis as I am doing currently.

Is it safe to show in the financial letter that i have a loan?

Oui.

 

[raziiqbal]

Oui.

Thanks for the reply.

I should send a 3 months bank statement or 6 months?

 

[DelPiero07]

Thanks for the reply.

I should send a 3 months bank statement or 6 months?

You don't need to provide bank statements if your bank letter follows IRCC requirements.

Otherwise it is recommended to submit 6 month bank statements.

 

[raziiqbal]

You don't need to provide bank statements if your bank letter follows IRCC requirements.

Otherwise it is recommended to submit 6 month bank statements.

This is what I found as per the requirements of IRCC

Letter(s) must:

• be printed on the financial institution’s letterhead
• include their contact information (address, telephone number and email address)
• include your name
• list outstanding debts such as credit card debts and loans
• include, for each current bank and investment account:
  • account numbers
  • the date each account was opened
  • the current balance of each account
  • the average balance for the past six months

Would it be sufficient to have these details on financial letter and submitting no bank statement with it?

 

[DelPiero07]

This is what I found as per the requirements of IRCC

Letter(s) must:

• be printed on the financial institution’s letterhead
• include their contact information (address, telephone number and email address)
• include your name
• list outstanding debts such as credit card debts and loans
• include, for each current bank and investment account:
  • account numbers
  • the date each account was opened
  • the current balance of each account
  • the average balance for the past six months

Would it be sufficient to have these details on financial letter and submitting no bank statement with it?

Yes but good luck convincing your bank to write all those details.

 

[raziiqbal]

Yes but good luck convincing your bank to write all those details.

You were bang on target. My bank said we dont have such letter. I am left with providing bank statements.

BTW, i have bank account and a credit card from another bank as well which i rarely use. Do i need to provide statements for them as well?